Rakesh V. Vohra offers a unique approach to studying and understanding
intermediate microeconomics by reversing the conventional order of
treatment, starting with topics that are mathematically simpler and
progressing to the more complex. The book begins with monopoly, which
requires single variable rather than multivariable calculus and allows
students to focus clearly on the fundamental trade-off at the heart of
economics: margin versus volume. Imperfect competition and the
contrast with monopoly follows, introducing the notion of Nash
equilibrium. Perfect competition is addressed toward the end of the
book, and framed as a model of non-strategic behavior by firms and
agents. The last chapter is devoted to externalities, with an emphasis
on how one might design competitive markets to price externalities and
linking the difficulties to the problem of efficient provision of
public goods. Real-life examples engage the reader while encouraging
them to think critically about the interplay between model and
reality.
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Fundamentals of Microeconomics
Produktdetaljer
ISBN
9781108806312
Publisert
2025
Utgiver
Cambridge University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter